Posted 4/6/2024, 10:29:55 AM
Nigeria Faces Backlash Over 240% Electricity Tariff Hike Despite Government's Reasoning
- Nigerian government insisted on 240% hike in electricity tariff despite calls for reversal
- Subsidized pricing regime would be short-term; full cost-reflective tariff in 3 years
- Nigeria Labour Congress said government must face consequences for "wicked and unpopular" tariff hike
- Manufacturers said hike will hurt businesses and make environment more hostile
- Government says tariff hike pro-poor, aimed at those who can afford cost; savings will fund other sectors